Zodiac Maritime takes two Xihe VLCCs

In the latest sell-off from Xihe creditors in Singapore, Eyal Ofer-led Zodiac Maritime has snapped up two VLCCs, the 2011-built Wu Tai San, now renamed Cyan Nova and sister ship, Kun Lun San, now renamed Cobalt Nova. Splash understands the ships fetched about $35m each.

This is the third time in as many years where Zodiac has flexed its financial muscle, adding distressed tanker assets.

Last year Zodiac did a similar move, snapping up distressed assets from another fallen tanker giant, winning the bid for two slightly younger VLCCs Brightoil Grace (2012) and Brightoil Grace (2013) while in 2018, Zodiac took six tankers in another bank-driven sale, adding ships from another broken giant, Gregory Callimanopoulos’s Trade and Transport.

Further Xihe tanker sales are being readied this week by the judicial managers of the company.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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